Balance Sheet Victoria's Secret & Co.

Stocks

VSXY

US9264001028

Apparel & Accessories Retailers

Real-time Estimate Cboe BZX Other stock markets 17:13:20 11/06/2026 BST			5-day change	1st Jan Change
76.00 ^USD	+2.38%		+3.66%	+39.85%

03:03pm	Victoria's Secret Re-elects Independent Chair Donna James, All Directors	MT
06-03	All 3 Independent Proxy Advisors Recommend Victoria?s Secret & Co. Shareholders Vote in Favor of All of the Company?s Nominees	CI

358e65.BWyvWo_C5kTttZoXGv7wEYQMI3h2sUZa5bRy4zXfyi4.TkGZE-yb0Hbb2vNEK7rIX_c7ejY83z8zt4c8pxiurmRRA8EN7u_XBbnNyw

Published financial data: VICTORIA'S SECRET & CO.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: January	2022	2023	2024	2025	2026
Revenues	6.78B	6.34B	6.18B	6.23B	6.55B
Total Revenues	6.78B	6.34B	6.18B	6.23B	6.55B
Cost of Goods Sold, Total	4.02B	4.04B	3.91B	3.95B	4.16B
Gross Profit	2.76B	2.31B	2.27B	2.28B	2.39B
Selling General & Admin Expenses, Total	1.89B	1.74B	1.95B	1.93B	1.99B
Amortization of Goodwill and Intangible Assets - (IS)	-	-	25M	25M	19M
Other Operating Expenses, Total	1.89B	1.74B	1.97B	1.96B	2.01B
Operating Income	870M	566M	299M	327M	384M
Interest Expense, Total	-27M	-60M	-99M	-86M	-70M
Net Interest Expenses	-27M	-60M	-99M	-86M	-70M
Other Non Operating Income (Expenses)	-	-1M	-	-3M	7M
EBT, Excl. Unusual Items	843M	505M	200M	238M	321M
Restructuring Charges	-	-51M	-8M	-13M	-56M
Merger & Related Restructuring Charges	-	-15M	-45M	-4M	-6M
Impairment of Goodwill	-	-	-	-	-
Asset Writedown	-	-	-	-	-120M
Legal Settlements	-	-22M	-	-	69M
EBT, Incl. Unusual Items	843M	417M	147M	221M	208M
Income Tax Expense	197M	79M	31M	52M	19M
Earnings From Continuing Operations	646M	338M	116M	169M	189M
Net Income to Company	646M	338M	116M	169M	189M
Minority Interest	-	10M	-7M	-4M	-28M
Net Income - (IS)	646M	348M	109M	165M	161M
Net Income to Common Incl Extra Items	646M	348M	109M	165M	161M
Net Income to Common Excl. Extra Items	646M	348M	109M	165M	161M
Per Share Items
Net EPS - Basic	7.34	4.24	1.4	2.09	2.01
Basic EPS - Continuing Operations	7.34	4.24	1.4	2.09	2.01
Basic Weighted Average Shares Outstanding	88M	82M	78M	79M	80M
Net EPS - Diluted	7.18	4.14	1.39	2.05	1.93
Diluted EPS - Continuing Operations	7.18	4.14	1.39	2.05	1.93
Diluted Weighted Average Shares Outstanding	90M	84M	79M	81M	83M
Normalized Basic EPS	5.99	3.97	1.51	1.83	2.16
Normalized Diluted EPS	5.85	3.88	1.49	1.79	2.08
Supplemental Items
EBITDA	1.17B	840M	583M	585M	622M
EBITA	870M	566M	299M	352M	403M
EBIT	870M	566M	299M	327M	384M
EBITDAR	1.64B	1.31B	1.08B	1.1B	1.15B
Effective Tax Rate - (Ratio)	23.37	18.94	21.09	23.53	9.13
Current Domestic Taxes	173M	89M	29M	63M	39M
Current Foreign Taxes	23M	18M	18M	18M	29M
Total Current Taxes	196M	107M	47M	81M	68M
Deferred Domestic Taxes	2M	-24M	-16M	-32M	-28M
Deferred Foreign Taxes	-1M	-4M	-	3M	-21M
Total Deferred Taxes	1M	-28M	-16M	-29M	-49M
Normalized Net Income	527M	326M	118M	145M	173M
Interest on Long-Term Debt	2M	-	-	-	-
Non-Cash Pension Expense	1M	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	-	344M	454M	429M	-
Marketing Expenses	334M	-	-	-	-
Selling and Marketing Expenses	334M	344M	454M	429M	-
General and Administrative Expenses	-	-	-	-	-
Net Rental Expense, Total	468M	474M	499M	513M	527M
Imputed Operating Lease Interest Expense	42.95M	83.92M	144M	131M	106M
Imputed Operating Lease Depreciation	425M	390M	355M	382M	421M
Stock-Based Comp., COGS (Total)	12M	18M	17M	20M	19M
Stock-Based Comp., SG&A Exp. (Total)	21M	30M	39M	40M	36M
Total Stock-Based Compensation	33M	48M	56M	60M	55M

Fiscal Period: January	2022	2023	2024	2025	2026
Assets
Cash And Equivalents	490M	427M	270M	227M	518M
Total Cash And Short Term Investments	490M	427M	270M	227M	518M
Accounts Receivable, Total	162M	141M	152M	159M	186M
Total Receivables	162M	141M	152M	159M	186M
Inventory	949M	1.05B	985M	955M	1.07B
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	90M	117M	126M	100M	108M
Total Current Assets	1.69B	1.74B	1.53B	1.44B	1.88B
Gross Property Plant And Equipment	5.16B	4.95B	4.97B	4.98B	4.89B
Accumulated Depreciation	-2.84B	-2.87B	-2.77B	-2.73B	-2.53B
Net Property Plant And Equipment	2.33B	2.08B	2.19B	2.26B	2.36B
Long-term Investments	35M	56M	60M	47M	53M
Goodwill	-	365M	367M	367M	367M
Other Intangibles, Total	246M	426M	400M	376M	246M
Deferred Tax Assets Long-Term	17M	18M	20M	22M	65M
Other Long-Term Assets, Total	29M	31M	26M	24M	37M
Total Assets	4.34B	4.71B	4.6B	4.53B	5.01B
Liabilities
Accounts Payable, Total	538M	481M	513M	419M	493M
Accrued Expenses, Total	328M	276M	255M	266M	314M
Current Portion of Long-Term Debt	4M	4M	4M	4M	4M
Current Portion of Leases	340M	310M	267M	287M	295M
Current Income Taxes Payable	102M	47M	20M	32M	42M
Unearned Revenue Current, Total	250M	291M	295M	256M	248M
Other Current Liabilities	136M	170M	260M	111M	111M
Total Current Liabilities	1.7B	1.58B	1.61B	1.38B	1.51B
Long-Term Debt	978M	1.27B	1.12B	973M	971M
Long-Term Leases	1.31B	1.2B	1.31B	1.43B	1.58B
Unearned Revenue Non Current	8M	18M	15M	13M	9M
Deferred Tax Liability Non Current	58M	53M	37M	11M	5M
Other Non Current Liabilities	31M	188M	64M	62M	35M
Total Liabilities	4.09B	4.31B	4.16B	3.87B	4.1B
Common Stock, Total	126M	1M	1M	1M	1M
Additional Paid In Capital	-	195M	238M	297M	345M
Retained Earnings	126M	186M	178M	343M	504M
Comprehensive Income and Other	5M	1M	-	-1M	6M
Total Common Equity	257M	383M	417M	640M	856M
Minority Interest	-	18M	21M	24M	54M
Total Equity	257M	401M	438M	664M	910M
Total Liabilities And Equity	4.34B	4.71B	4.6B	4.53B	5.01B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	84.31M	77.75M	77.58M	78.89M	80.47M
ECS Total Common Shares Outstanding	85M	80M	78M	79M	80M
Book Value / Share	3.02	4.79	5.35	8.1	10.7
Tangible Book Value	11M	-408M	-350M	-103M	243M
Tangible Book Value Per Share	0.13	-5.1	-4.49	-1.3	3.04
Total Debt	2.64B	2.79B	2.7B	2.7B	2.85B
Net Debt	2.15B	2.36B	2.43B	2.47B	2.33B
Debt Equivalent Oper. Leases	3.74B	3.79B	3.99B	4.1B	4.22B
Minority Interest, Total (Incl. Fin. Div)	-	18M	21M	24M	54M
Equity Method Investments, Total	35M	56M	60M	47M	53M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	51M	55M	56M	54M	58M
Inventories - Finished Goods, Total	898M	997M	929M	901M	1.01B
Land - (BS)	27M	28M	28M	28M	27M
Buildings, Total	211M	219M	218M	219M	209M
Machinery, Total	2.41B	2.39B	2.31B	2.22B	2B
Full Time Employees	14K	14K	13K	13K	12K
Part Time Employees	20K	17K	17K	18K	21K
Assets on Operating Lease - Gross	-	-	-	-	-

Fiscal Period: January	2022	2023	2024	2025	2026
Net Income	646M	348M	109M	165M	161M
Depreciation & Amortization - CF	303M	274M	284M	233M	219M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	25M	19M
Depreciation & Amortization, Total	303M	274M	284M	258M	238M
(Gain) Loss From Sale Of Asset	-	-	-	-7M	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	19M	-
Asset Writedown & Restructuring Costs	-	-	-	-	120M
Stock-Based Compensation (CF)	33M	48M	56M	60M	55M
Other Operating Activities, Total	1M	-38M	20M	-64M	-22M
Change In Accounts Receivable	-21M	22M	-13M	-8M	-24M
Change In Inventories	-247M	-	36M	29M	-112M
Change In Accounts Payable	173M	-163M	-11M	-78M	114M
Change In Income Taxes	119M	-67M	-26M	14M	15M
Change in Other Net Operating Assets	-156M	13M	-66M	37M	-46M
Cash from Operations	851M	437M	389M	425M	499M
Capital Expenditure	-169M	-164M	-256M	-178M	-187M
Sale of Property, Plant, and Equipment	-	-	-	25M	-
Cash Acquisitions	-	-369M	1M	-	-
Investment in Marketable and Equity Securities, Total	-	-18M	-	-	-
Other Investing Activities, Total	-	-4M	1M	-	3M
Cash from Investing	-169M	-555M	-254M	-153M	-184M
Short Term Debt Issued, Total	-	295M	-	-	-
Long-Term Debt Issued, Total	982M	-	465M	460M	545M
Total Debt Issued	982M	295M	465M	460M	545M
Long-Term Debt Repaid, Total	-1M	-4M	-619M	-609M	-549M
Total Debt Repaid	-1M	-4M	-619M	-609M	-549M
Issuance of Common Stock	5M	5M	3M	5M	4M
Repurchase of Common Stock	-254M	-292M	-137M	-10M	-15M
Other Financing Activities, Total	-1.26B	54M	-3M	-161M	-9M
Cash from Financing	-527M	58M	-291M	-315M	-24M
Foreign Exchange Rate Adjustments	-	-3M	-1M	-	-
Net Change in Cash	155M	-63M	-157M	-43M	291M
Supplemental Items
Cash Interest Paid	-	-	-	77M	66M
Cash Income Tax Paid (Refund)	-	-	-	54M	87M
Levered Free Cash Flow	616M	276M	334M	80.62M	275M
Unlevered Free Cash Flow	633M	314M	396M	134M	319M
Change In Net Working Capital	78M	198M	-125M	210M	27M
Net Debt Issued / Repaid	981M	291M	-154M	-149M	-4M

Fiscal Period: January	2022	2023	2024	2025	2026
Profitability
Return on Assets	12.69	7.81	4.01	4.48	5.03
Return on Total Capital	18.57	11.64	5.91	6.29	6.74
Return On Equity %	112.54	102.74	27.65	30.67	24.02
Return on Common Equity	112.54	108.75	27.25	31.22	21.52
Margin Analysis
Gross Profit Margin %	40.68	36.4	36.74	36.66	36.49
SG&A Margin	27.86	27.47	31.49	31.01	30.34
EBITDA Margin %	17.29	13.24	9.43	9.39	9.49
EBITA Margin %	12.82	8.92	4.84	5.65	6.15
EBIT Margin %	12.82	8.92	4.84	5.25	5.86
Income From Continuing Operations Margin %	9.52	5.33	1.88	2.71	2.88
Net Income Margin %	9.52	5.49	1.76	2.65	2.46
Net Avail. For Common Margin %	9.52	5.49	1.76	2.65	2.46
Normalized Net Income Margin	7.77	5.13	1.91	2.32	2.63
Levered Free Cash Flow Margin	9.08	4.35	5.4	1.29	4.2
Unlevered Free Cash Flow Margin	9.33	4.95	6.4	2.16	4.87
Asset Turnover
Asset Turnover	1.58	1.4	1.33	1.36	1.37
Fixed Assets Turnover	2.72	2.88	2.89	2.8	2.84
Receivables Turnover (Average Receivables)	47.95	41.87	42.2	40.06	37.99
Inventory Turnover (Average Inventory)	4.88	4.03	3.84	4.07	4.11
Short Term Liquidity
Current Ratio	1	1.1	0.95	1.05	1.25
Quick Ratio	0.38	0.36	0.26	0.28	0.47
Operating Cash Flow to Current Liabilities	0.5	0.28	0.24	0.31	0.33
Days Sales Outstanding (Average Receivables)	7.59	8.69	8.79	9.09	9.58
Days Outstanding Inventory (Average Inventory)	74.61	90.26	96.62	89.48	88.59
Average Days Payable Outstanding	37.31	44.82	47.97	43.32	38.8
Cash Conversion Cycle (Average Days)	44.89	54.13	57.44	55.25	59.38
Long Term Solvency
Total Debt/Equity	1.03K	694.76	617.12	406.33	312.75
Total Debt / Total Capital	91.12	87.42	86.06	80.25	75.77
LT Debt/Equity	891.83	616.46	555.25	362.5	279.89
Long-Term Debt / Total Capital	79.23	77.57	77.43	71.59	67.81
Total Liabilities / Total Assets	94.08	91.49	90.48	85.35	81.85
EBIT / Interest Expense	32.22	9.43	3.02	3.8	5.49
EBITDA / Interest Expense	60.78	21.9	10.93	12.77	16.41
(EBITDA - Capex) / Interest Expense	54.52	19.17	8.34	10.7	13.74
Total Debt / EBITDA	1.61	2.12	2.5	2.46	2.48
Net Debt / EBITDA	1.31	1.8	2.25	2.25	2.03
Total Debt / (EBITDA - Capex)	1.79	2.42	3.27	2.93	2.96
Net Debt / (EBITDA - Capex)	1.46	2.05	2.95	2.69	2.42
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	25.35	-6.5	-2.55	0.78	5.18
Gross Profit, 1 Yr. Growth %	53.33	-16.34	-0.7	0.44	4.68
EBITDA, 1 Yr. Growth %	121.32	-28.39	-28.71	-0.17	6.32
EBITA, 1 Yr. Growth %	326.47	-34.94	-45.02	7.65	14.49
EBIT, 1 Yr. Growth %	326.47	-34.94	-45.02	8.28	17.43
Earnings From Cont. Operations, 1 Yr. Growth %	-997.22	-47.68	-65.68	45.69	11.83
Net Income, 1 Yr. Growth %	-997.22	-46.13	-68.68	51.38	-2.42
Normalized Net Income, 1 Yr. Growth %	323.62	-38.2	-62.15	20.75	19.26
Diluted EPS Before Extra, 1 Yr. Growth %	-975.61	-42.34	-66.43	47.48	-5.85
Accounts Receivable, 1 Yr. Growth %	33.88	-12.96	7.8	4.61	16.98
Inventory, 1 Yr. Growth %	35.38	10.85	-6.37	-3.05	12.15
Net Property, Plant and Equip., 1 Yr. Growth %	-12.82	-10.66	5.58	2.78	4.74
Total Assets, 1 Yr. Growth %	2.72	8.45	-2.36	-1.48	10.61
Tangible Book Value, 1 Yr. Growth %	-98.29	-3.81K	-14.22	-70.57	-335.92
Common Equity, 1 Yr. Growth %	-71.16	49.03	8.88	53.48	33.75
Cash From Operations, 1 Yr. Growth %	26.26	-48.65	-10.98	9.25	17.41
Capital Expenditures, 1 Yr. Growth %	33.07	-2.96	56.1	-30.47	5.06
Levered Free Cash Flow, 1 Yr. Growth %	-5.79	-55.15	27.3	-76	241.4
Unlevered Free Cash Flow, 1 Yr. Growth %	-3.76	-50.41	32.01	-66.22	137.4
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.94	8.26	-4.55	-0.9	2.96
Gross Profit, 2 Yr. CAGR %	8.93	13.26	-9.29	0.26	3.2
EBITDA, 2 Yr. CAGR %	52.86	32.43	-29.5	-14.59	7.23
EBITA, 2 Yr. CAGR %	209.2	92.34	-41.38	-18.35	19.54
EBIT, 2 Yr. CAGR %	209.2	92.34	-41.38	-21.3	22.24
Earnings From Cont. Operations, 2 Yr. CAGR %	-15.14	116.67	-57.62	-29.29	27.64
Net Income, 2 Yr. CAGR %	-15.14	119.85	-58.92	-31.14	21.53
Normalized Net Income, 2 Yr. CAGR %	216.79	87.62	-52.68	-30.75	37.17
Diluted EPS Before Extra, 2 Yr. CAGR %	-16.07	124.69	-56	-29.63	17.83
Accounts Receivable, 2 Yr. CAGR %	1.58	7.95	-3.14	6.19	10.62
Inventory, 2 Yr. CAGR %	5.35	22.5	1.88	-4.72	4.27
Net Property, Plant and Equip., 2 Yr. CAGR %	-19.2	-11.75	-2.88	4.17	3.76
Total Assets, 2 Yr. CAGR %	-9.21	5.54	2.9	-1.92	4.39
Tangible Book Value, 2 Yr. CAGR %	-89.84	-20.47	464.08	-49.76	-16.68
Common Equity, 2 Yr. CAGR %	-55.74	-34.44	27.38	29.27	43.27
Cash From Operations, 2 Yr. CAGR %	64.37	-19.48	-32.39	-1.38	13.26
Capital Expenditures, 2 Yr. CAGR %	-13.33	13.64	23.08	4.18	-14.53
Levered Free Cash Flow, 2 Yr. CAGR %	-	-33.35	-26.36	-43.49	-5.43
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-29.18	-20.9	-31.93	-7.1
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-5.75	-5.46	4.53	-2.8	1.09
Gross Profit, 3 Yr. CAGR %	-0.36	-0.24	8.06	-6.12	1.72
EBITDA, 3 Yr. CAGR %	8.2	18.72	6.77	-20.7	-8.12
EBITA, 3 Yr. CAGR %	20.2	83.9	25.02	-26.04	-8.61
EBIT, 3 Yr. CAGR %	20.2	83.9	25.02	-27.83	-10.07
Earnings From Cont. Operations, 3 Yr. CAGR %	37.04	-27.77	17.23	-36.04	-17.62
Net Income, 3 Yr. CAGR %	37.04	-27.07	14.82	-36.55	-22.66
Normalized Net Income, 3 Yr. CAGR %	19.66	83.73	8.45	-34.99	-17
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-25.94	19.23	-34.15	-22.46
Accounts Receivable, 3 Yr. CAGR %	-	-3.52	7.9	-0.62	9.67
Inventory, 3 Yr. CAGR %	-	7.16	12.01	0.21	0.6
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-16.45	-6.31	-1.03	4.36
Total Assets, 3 Yr. CAGR %	-	-3.67	2.84	1.42	2.09
Tangible Book Value, 3 Yr. CAGR %	-	-27.39	-18.44	110.77	-15.86
Common Equity, 3 Yr. CAGR %	-	-33.66	-22.36	35.54	30.74
Cash From Operations, 3 Yr. CAGR %	6.83	11.53	-16.74	-20.66	4.52
Capital Expenditures, 3 Yr. CAGR %	-20.86	-10	26.32	1.74	4.47
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-18.71	-49.22	2.92
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-14.15	-40.34	3.23
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-5.27	-3.67	3.9
Gross Profit, 5 Yr. CAGR %	-	-	-4.03	-0.36	5.84
EBITDA, 5 Yr. CAGR %	-	-	-8.84	3.11	5.36
EBITA, 5 Yr. CAGR %	-	-	-9.81	31.07	21.37
EBIT, 5 Yr. CAGR %	-	-	-9.81	29.15	20.21
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-14.3	-28.38	21.29
Net Income, 5 Yr. CAGR %	-	-	-15.36	-28.72	17.46
Normalized Net Income, 5 Yr. CAGR %	-	-	-17.43	22.49	13.29
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-27.44	18.67
Accounts Receivable, 5 Yr. CAGR %	-	-	-	0.25	8.98
Inventory, 5 Yr. CAGR %	-	-	-	2.24	8.85
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-8.74	-2.41
Total Assets, 5 Yr. CAGR %	-	-	-	-2.97	3.46
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-37.34	-17.74
Common Equity, 5 Yr. CAGR %	-	-	-	-13.37	-0.8
Cash From Operations, 5 Yr. CAGR %	-	-	-11.04	6.17	-5.84
Capital Expenditures, 5 Yr. CAGR %	-	-	-5.57	-4.58	8.05
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	-15.04
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	-12.6